GRE Sample Questions

Verbal Section : Reading Comprehension

Read the following comprehension and answer the following question.

4. According to a few economists swadeshi does not mean insulating India’s financial system from the world economy. The fundamental thought of swadeshi is to have all the segments which enabled to complete with the best in the world after going through extreme internal rivalry leading to amalgamation, acquisitions and purging. This is how Japan has urbanized its industry and the whole economy. However, under the current world circumstances and the requirement of migrating circumstances of scarcity in the country, the government has to make a decision as to how much of free of charge trade is to be permitted in the different sections of financial system in order to attain the rate of development planned for the financial system through the period of Ninth plan. All over the world, our nation has been found to be divided on crucial question of defense and free trade. A latest study has found that the protectionist in the world outnumber free buyers and showing more increase in their number.

   The research has been made for The Economist by the Augus-Reild assembly, a Canadian pollster. It is based on a view poll approved among 12.750 adults spread over 23 vital countries of the world. The main important question asked in the poll was to which of the next two approaches do you consider would be the finest way to progress the economic and service situation in this country:
   (a) Defending our local industries by checking imports
   (b) Removing imports checking to raise our worldwide trade
   
   Reply received to this question showed that:
   (1) Protectionist global outnumber free traders is: 47% to 42%
   (2) Percentage of people supporting free of charge trade has reduced from 43% in 1997 to 42% in 1998

   In 14 out of the 22 countries, protectionists have outnumbered the free of charge traders and another four countries had revealed a fall in the number of the buyers, which means a swing towards protectionism. The development for a fall in the number of free of charge traders and a increase in the number of protectionists has been called as astonishing in the research because it has revealed a harmful result for the astonishing global efforts of the WTO, The World Bank, the IMF and the most powerful G-7 countries for the propagation and promotion of free trade and globalization in the world. It is interesting to note that America, Australia, UK, Canada and Italy, who are strong champions of free trade in the world, have a large majority of their own people still supporting protection. The study says: A clear majority of Americans 56% to 37% are protectionist even today. And over the past one year the number of free traders in America had declined by 5%. Such decline was much higher in Italy 22%, Canada 14% and UK 15%.
   
   

   4. What according to the author is amazing as per the report of the study?
      1. Decrease in the number of protectionist
      2. Increase and decrease in the numbers of protectionist and free traders respectively
      3. The trend for increase in the number of free traders
      4. The inconclusive finds of survey
      5. None of the above

      Ans : B
      

   5. It can be inferred from the last paragraph of the last passage that
      1. Most of the people in the countries who are champions of free trade are in favor of free trade
      2. There is a swing of public opinion in favor of free trade
      3. Results of protectionism are not positive
      4. Advocates of free trade are gradually outnumbering protectionists
      5. None of the above

      Ans : D
      

   6. The author suggest the government to
      1. Give a preferential treatment to local industries
      2. Judiciously decide the extents of protection and free trade
      3. Mitigate conditions of poverty in the country
      4. Allow free trade without restriction
      5. None of the above

      Ans : B
      

   7. The study undertaken by Augus Reild group was with a view to find out
      1. (a) How people know different countries differ an economic issues (b) The implication of restricting imports (c) Various measures to improve the economic situation (d) The result of increase in international trade (e) Viewpoint of people on free trade versus protectionism Answer (e)
      2. The implication of restricting imports
      3. Various measures to improve the economic situation
      4. The result of increase in international trade
      5. Viewpoint of people on free trade versus protectionism

      Ans : E
      

   8. The credit of Japan’s industrial and economic development goes to the strategy of
      1. Merging its industries with those of foreign players
      2. Isolating its own economy from the world economy
      3. Elimination of loss making industries and acquisition of profit making ones
      4. Effectively facing internal and external economic competition
      5. None of the above

      Ans : D

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